Peymo Launches AI-Powered Digital Finance Platform

Peymo, a FinTech based in the United Kingdom, launched an artificial intelligence-powered digital finance platform that integrates fiat banking, cryptocurrency wallets, tokenized assets and embedded finance.

With this platform, which the company dubbed an “AI-powered multi-hybrid bank,” users can manage British pounds, euros, crypto assets and branded debit cards, the company said in a Thursday (June 12) press release.

In addition, enterprises can use APIs to plug in full banking functions, according to the release.

“By fusing AI, fiat, crypto and embedded finance into a single stack, we’re delivering the next generation of banking — and it’s ready today,” Peymo founder Tomas Bartos said in the release.

The platform also features a voice-first interface that enables hands-free banking; AI agents that monitor user behavior, track market activity, optimize payments and provide asset protection; and AI tools that help users navigate their entire portfolio, including crypto, fiat, gold and tokenized assets, according to the release.

Peymo is in talks with partners, early adopters and regulatory stakeholders to expand its infrastructure globally, per the release.

In a July 2024 post on LinkedIn, Peymo said investors could join the company in “a transformative journey in the financial landscape.”

“For investors, Peymo presents a strategic opportunity with its client acquisition approach, which includes acquiring large client databases, embedding finance solutions with online businesses, and implementing a paygateway system,” the post said. “This strategy aims to rapidly expand Peymo’s user base and demonstrate its growth potential in the competitive market.”

The convenience and ease of use of mobile banking apps have made them the preferred method of banking for many customers, with the majority of millennials, Generation Z and Generation X consumers using them as their primary financial tools, according to the PYMNTS Intelligence report “Why Digital-First Banking Does Not Mean Digital-Only.”

The report cited research from Salesforce that found that the demand for better service and personalized experiences was the driving force behind 25% of customers switching banks last year. Among those who switched, more than half did so seeking better digital experiences, while 39% left in search of enhanced customer service, according to the report.

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